HUPX celebrates 10-year anniversary
HUPX Hungarian Power Exchange Ltd., the operator of the organized Hungarian spot power market celebrates its 10th anniversary on 20th of July 2020.
HUPX was established in 2010 by the national TSO MAVIR, as an important part of the energy market liberalization in Hungary, with the objective to provide reference price and an exchange trading platform. Since its launch, the Exchange has been successfully operating in a highly competitive environment and reaching one important milestone after another by continuously innovating and putting a strong emphasize on further developing its platforms and services.
„Over the past ten years, we have developed our services, increased our product range, trading volumes and number of participants. All these to operate a trading platform that suits our customers’ needs the best. It is in this spirit that we plan to continue our operation in the next decade as well.”
/György Istvánffy, CEO, HUPX Ltd./
Read the full Press Release.
Our top 10 milestones
- 2019 - HUPX went live with XBID European Single Intraday Coupling (SIDC)
In 2019 HUPX went live sucessfully with XBID - European Single Intraday Coupling (SIDC) resulting tenfold intraday volume increase.
- 2018 - E-learning platform was introduced
In 2018 E-learning platform was introduced providing remote access to training materials and giving the opportunity for traders to take the exams online. This service proved to be the traders preference since then, resulting in around one hundred exams taken on the platform.
- 2017-2018 - We established HUDEX and it started its operation as derivative power and gas exchange under MiFID II
In 2017 we established HUDEX Hungarian Derivative Energy Exchange Ltd., and acquired MiFID II licence. HUDEX went live on 3rd of January 2018 becoming the youngest member of the HUPX Group, offering derivative power and gas contracts for trading.
- 2016 - We launched HUPX Intraday Market
We extended our offering with Intraday Market – IDM in 2016 aiming to provide our Members with additional trading opportunities closer to delivery and prepare Hungarian power market to integrate to the European internal market.
- 2015 - HUPX acquired NEMO status
In 2015 HUPX earned Nominated Electricity Market Operator (NEMO) designation by the Hungarian NRA, in accordance with article 4 of the CACM Regulation, while in 2019 HUPX’s NEMO status has been renewed for an indefinite period of time.
- 2014 - Go live of 4M MC between Hungary, Czech Republic, Slovakia and Romania
4MMC – Hungarian Power Exchange – together with its PX and TSO partners from Czech Republic, Slovakia, Romania and Hungary – started the operation of coupled day-ahead markets under the umbrella of 4M MC in November 2014. Next year HUPX DAM volumes increased by 18.5%. Volumes are growing ever since then, now, in 2020, the traded volumes are almost two times that level.
Nowadays, we are looking forward to couple further with other surrounding markets to extend these benefits.
- 2013 - We established CEEGEX as the organized natural gas market in Hungary
We expanded our energy market scope to gas segment by founding CEEGEX Central Eastern European Gas Exchange Ltd. as a HUPX subsidiary, with the aim to establish efficient gas trading platform in Hungary. CEEGEX went live in 2013 and - following the example set by HUPX - became substantial in the regional gas market.
- 2012 - Market Coupling between, Czech Republic, Slovakia and Hungary
We successfully coupled our Hungarian day-ahead power market with Czech Republic and Slovakia in 2012, which further evolved into 4MMC by including Romania in 2014.
- 2011 - Introduction of HUPX Physical Futures
We introduced PhF products within HUPX in 2011, offering our members a new service - trading of physically settled futures products. Later in 2018, electricity and natural gas physical futures products were transformed to MiFID II regulated financial market - HUDEX.
- 2010 - Go-Live of HUPX Dam on July 20th, 2010
HUPX’s Day-ahead Market was launched on 20th July 2010 with 11 founding Market Participants trading totally 2.3 GWh on the first day of operation. In 2020, the avarage daily traded volume is 69 GWh, and the number of admitted members is 60, making HUPX one of the most liquid power exchange in the region.
Thank you for being part of our journey!
Learn more about our history and watch our “10 years of HUPX” video.
Celebrate with us!
We were planning to have a celebratory evening in Budapest. However, health and safety is our priority, thus we decided to postpone our 10-year Anniversary Event. Anyhow, we would never miss this opportunity to say thank you to our partners for being with us.
Therefore, an enthusiastic group of our colleagues gathered online for preparing this fun greeting card and raise their glasses for another decade of successful cooperation with you.
Thank you for being part of our journey.